Payroll is the compensation a company gives an employee for their work. Salary, wages, overtime, bonuses, and the like are processed through payroll.

Often one of the most sizable expenses a company has, payroll operation is a crucial focus for nearly every company on the planet because, as the old saying goes: If you ain’t paying, I ain’t working.

Payroll can be outsourced to third parties, done manually, or conducted through software.